Magnite, Inc. Common Stock (MGNI) — Stock Correlations & Overview
Over the past year, MGNI has moved most closely with TOGA, PNQI, IPAY. Explore the stocks most correlated and inversely correlated with MGNI below, along with its price, financials, and company profile.
Stocks correlated with MGNI
Correlation of daily returns. Higher positive values move with MGNI; negative values move opposite it. Informational only, not investment advice.
Most correlated with MGNI
| Symbol | Company | Correlation |
|---|---|---|
| TOGA | Tremblant Global ETF | 0.58 |
| PNQI | Invesco NASDAQ Internet ETF | 0.54 |
| IPAY | Amplify Digital Payments ETF | 0.54 |
| MILN | Global X Funds Global X Millennial Consumer ETF | 0.53 |
| BUYZ | Franklin Disruptive Commerce ETF | 0.52 |
Most inversely correlated with MGNI
| Symbol | Company | Correlation |
|---|---|---|
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.48 |
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | -0.46 |
| DWSH | AdvisorShares Dorsey Wright Short ETF | -0.40 |
| FLYD | MicroSectors Travel -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.38 |
| SKF | ProShares UltraShort Financials | -0.35 |
Frequently asked questions about MGNI correlations
- Which stocks are most correlated with MGNI?
- Based on one year of daily returns, the stocks most correlated with Magnite, Inc. Common Stock (MGNI) are TOGA (0.58), PNQI (0.54) and IPAY (0.54). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with MGNI?
- Over the past year, the stocks most inversely correlated with Magnite, Inc. Common Stock (MGNI) are HDGE (-0.48), WEBS (-0.46) and DWSH (-0.40). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these MGNI correlations calculated?
- We compute the correlation of daily returns between MGNI and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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